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Mobile Biometrics Market Size (2024 - 2029)

The mobile biometric authentication market is experiencing significant growth, driven by the increasing need for secure access to data and systems. Traditional methods like passwords and PINs are being challenged by the rise of biometric technologies on mobile devices, which have become more user-friendly and affordable. This market expansion is evident in various sectors, including banking, where biometric authentication is enhancing security for mobile transactions. Additionally, the technology is transforming security operations at airports and international borders, streamlining processes and improving customer satisfaction.

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Market Size of Mobile Biometrics Industry

Mobile Biometrics Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 26.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Mobile Biometrics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Mobile Biometric Market Analysis

The Mobile Biometrics Market was valued at USD 18.63 billion in 2020 and is expected to reach USD 74.58 billion by 2026, at a CAGR of 26% over the forecast period 2021 - 2026. Over the years, the requirement to control access to data, premises, and systems has grown. Presently, many organizations rely on passwords, PIN numbers, or cards to confirm people's identity for access. However, this traditional approach poses severe challenges. Biometric on mobile devices has become popular in recent years. The technology moved toward user-friendliness and also became much more affordable for consumers. This technology has been leveraged to facilitate online transactions, authentication, and many other services.

  • Some major banks leverage biometric technologies in a variety of scenarios, such as cash withdrawals at the ATM, authenticating mobile banking apps using fingerprint signing, or a combination of face and voice verification. For instance, the Bank of America rolled out fingerprint authentication and Touch ID in 2015 and more than half of the bank's customer used the biometric for mobile access by the middle of 2017.
  • Facial recognition, also poised for growth across industries, is witnessing a boost from the launch of Apple's Face ID system. Tesco Bank is one of the banks that updated its mobile banking app to make it compatible with Apple's Face ID, letting customers log into their accounts and make payments by using facial recognition.
  • Biometrics has also brought a radical change in security operations in places, such as airports and international borders. Many countries across the world deployed biometric identification at their borders. Also, numerous airports are using automatic facial recognition boarding system which saves time and keeps the customers happy. UK police officers are exploring the potential of automated facial recognition technology (AFR) and how this technology can be adopted on their smartphones in the future.

Mobile Biometric Industry Segmentation

Mobile biometric refers to mobile applications of biometrics, which include embedded sensors and readers, as well as mobile apps which exploit biometrics. This includes handheld systems, as well as systems based on a tablet or smartphone. Mobile biometrics is reliable to secure personal accounts, devices, and identification details of one in the system.

By Application
Access Control
Mobile Banking
Other Applications
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Rest of the World
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Mobile Biometrics Market Size Summary

The mobile biometric authentication market is experiencing significant growth, driven by the increasing need for secure access to data and systems. Traditional methods like passwords and PINs are becoming less effective, prompting a shift towards biometric solutions on mobile devices. This technology has gained popularity due to its user-friendly and cost-effective nature, facilitating online transactions and authentication services. Major banks are integrating biometric technologies for various applications, such as ATM withdrawals and mobile banking app authentication, using fingerprint, face, and voice verification. The adoption of facial recognition is also on the rise, with companies like Apple and Tesco Bank enhancing their services to include facial recognition features, improving security and user experience in banking and other sectors.

The demand for mobile biometrics is further fueled by the rapid increase in online banking and financial services, which necessitate advanced authentication methods to safeguard consumer data. The rise in mobile transactions, particularly in countries like China and India, is creating substantial opportunities for biometric solutions. Banks are investing in multi-mode biometric authentication systems, incorporating fingerprint, face, and voice recognition to enhance security. The market is highly competitive, with numerous players introducing innovative products and forming strategic partnerships to expand their presence. Recent developments include the launch of advanced biometric identity solutions and apps with military-grade security features, underscoring the industry's commitment to providing robust authentication solutions.

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Mobile Biometrics Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Popularity of Mobile Commerce

      2. 1.2.2 Increasing BYOD Security Requirement

    3. 1.3 Market Restraints

      1. 1.3.1 Concerns About Data Privacy and Data Breach

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Technology Snapshot

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Application

      1. 2.1.1 Access Control

      2. 2.1.2 Mobile Banking

      3. 2.1.3 Other Applications

    2. 2.2 Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United States

        2. 2.2.1.2 Canada

      2. 2.2.2 Europe

        1. 2.2.2.1 United Kingdom

        2. 2.2.2.2 Germany

        3. 2.2.2.3 France

        4. 2.2.2.4 Italy

        5. 2.2.2.5 Rest of Europe

      3. 2.2.3 Asia-Pacific

        1. 2.2.3.1 China

        2. 2.2.3.2 Japan

        3. 2.2.3.3 South Korea

        4. 2.2.3.4 India

      4. 2.2.4 Rest of the World

Mobile Biometrics Market Size FAQs

The Mobile Biometrics Market is projected to register a CAGR of 26% during the forecast period (2024-2029)

Aware Inc., Precise Biometrics AB, Nuance Communications Inc., IDEMIA (Safran Identity & Security SAS) and Fingerprint Cards AB are the major companies operating in the Mobile Biometrics Market.

Mobile Biometric Authentication Market Report Snapshots

Mobile Biometric Authentication Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)